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Euro to Dollar and WTI Petrol Forecasts September 12, 2019
Euro to Dollar and WTI Petrol Forecasts September 12, 2019
Posted

By - Jamel Lahiani

Posted - 12-09-2019

The EURUSD  is ranging at short therm.
The EURUSD  is trending bearish at long term.
The WTI  is ranging.

Today our analysis will be concerned with:

The EURUSD is the most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

CLICK ALSO: Euro to Dollar, Forecasts September 11, 2019

WTI: the pricing crude oil of the United States’ WTI (West Texas Intermediate).

FOREX Market Insights
Yesterday, the majority of stocks markets indexes return positive. The US stock finished
Stronger: the Dow Jones (US) records +0.85% and NASDAQ records + 1.06%. This led by
tariff-sensitive technology and industrial stocks, after China extended an olive branch ahead
of next month’s trade negotiations. The Gold price reaches 1495$ with a variation of 0.57%
but the petrol price WTI falls by -2.87%.
In Focus
Today, the focus is on a series of high impact economic events and published indicators:
At 11H45 GMT: The deposit rate, announced by European Central Bank.
At 11H45 GMT: The ECB Interest Rate Decision is announced by the European Central Bank.
AT 12H30 GMT:
The US Initial Jobless Claims released by the US Department of Labor .
The US average number for the last four releases of the Initial Jobless Claims released by the US Department of Labor.
The US Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics
The US Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics


GRAPHIC 1: EURUSD DAILY CHART (SEPTEMBER 12, 2019)
Yesterday, the US Dollar appreciates against the Euro by -0.36% that supports the long term trend
bearish movement. The EURUSD pair is bearish inside a channel and downing MA14. The US Dollar is
stronger than the Euro. It is interesting to sell this pair at the top of the colored channel or when the
candle crosses MA14 in blue color to the downside.

GRAPHIC 2: EURUSD HOURLY CHART (SEPTEMBER 12, 2019)
Yesterday, the pair realized a break to the downside and constructs a new range inside the colored channel. The market is waiting for high impact data that will be published by the two economies: Europe and the US. It is interesting to sell at the top of the channel and buy at the bottom or to sell when the Stock RSI indicator is higher than 80 and to buy when this indicator is lower than 20 and the red line cross the blue line.

If there is a break and a chart close outside the colored range then a news trend could be very significant and issued from high impact data mentioned in focus.

GRAPHIC 3: WTI DAILY CHART (SEPTEMBER 12, 2019)
The WTI crude oil (West Texas Intermediate) price follows a ranging movement inside the colored
channel between tow limits 58.80$ and 52.88$. It is interesting to sell when the pair is close to the
top of the channel and buy when the pair is close to the bottom.

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